Brazil Embraer's deliveries of commercial jets continue to fall in second quarter
SAO PAULO (Reuters) - Brazil planemaker Embraer
Embraer has been struggling to turn a profit in recent months, as demand for its executive jets remains weak and its new generation commercial planes have not met certain requirements to be flown by the larger carriers in the United States.
The company said its firm order backlog, a gauge of future revenue, increased to $16.9 billion from $16 billion in the previous quarter. A year earlier, the backlog stood at $17.4 billion.
Deliveries of executive jets rose slightly to 22 planes from 20 planes a year earlier.
Embraer is in the process of finalizing the sale of 80% of its commercial jets division, its most profitable, to Boeing (NYSE: BA) for $4.2 billion. The sale has been approved by Brazil's government and Embraer's shareholders but still needs regulatory approval from several countries.
(Reporting by Marcelo Rochabrun; Editing by Bernadette Baum)